Topic: Internal Revenue Service

Should You Dip Into Your Qualified Plan?

Qualified retirement plans allow employees to accumulate assets, providing financial security once these workers retire. A qualified plan may allow an employee to begin receiving distributions from the plan upon his or her attainment of retirement age. A qualified plan may allow ...

Divorce and income taxes

To begin with, the IRS only considers a couple to be divorced for income tax purposes if they have received a decree of separate maintenance or final divorce decree by the last day of the tax year. If a decree of separate ...

Divorce settlement and taxes

Divorce settlements are rarely settled. The issue essentially was that employee retirement plans, that were exempt from Social Security benefits could not be treated as marital property in divorce. Subsequent rulings have changed some aspects so that it can be considered marital ...

When to use the 8332 tax form

Form 8332 is a U.S. Internal Revenue Service (IRS) document used when filing taxes. The form involves the right to claim children as a tax benefit on annual tax filing with the Internal Revenue Service (IRS). The form is titled? 'Release/Revocation of ...
Changing your name after a divorce can be a liberating experience that allows you to regain your own identity and make a fresh start. Request a modification order to your divorce decree if you did not previously have an order from the ...
Function The IRS allows only one parent to claim a child as a dependent in the case of a divorce or separation. In most cases the custodial parent, defined by the IRS as the parent the child spends the most nights with, ...
Non custodial parents can still claim child tax credits if they file correctly. The tax credit for children in the US stands for a pecuniary duty of the citizens that claim a child as a dependent and consists of an amount of ...
The Child Tax Credit is a non-refundable tax credit that reduces a taxpayer's liability dollar-for-dollar. If there is ever a question as to which parent can claim the credit or exemption, the IRS will be looking for the address printed on school ...
In a divorce case in Massachusetts, the court makes the ruling regarding the care and custody of a minor child. The Internal Revenue Service's (IRS) guidelines state that the parent with actual custody--providing care and maintenance--for more than six months of the ...

Retirement in a Divorce

Types Divorce retirement distributions are different in community property states and equitable distribution states. States that do not view retirement accounts as marital property may still take the benefits into consideration when awarding spousal support or dividing other property. Identification Judicial divorce ...
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